Canadians are still buying cars like there’s no tomorrow. The country’s biggest automakers released their sales numbers from March on Monday and General Motors comes out on top as best selling auto brand in Canada.
According to Good Car Bad Car, Canadian auto sales are up a massive 5% over Q1 2016. After some analysts predicted a slump for Canada in 2017, that’s big news for the auto industry. Especially for luxury automakers, who continue to see huge increases in sales volume, growing faster than any other brands out there.
Jaguar led the pack with a 227% gain over March 2016. Maserati and Fiat also doubled their sales or better with 198% and 103% gains respectively. This marks a huge year for Maserati and Jaguar who so far have seen sales rise 342% and 235% respectively. Of course, these automakers comprise less than 1% of the market.
Among the big brands, General Motors claims top spot in Canada with 30,115 vehicles sold last month. That’s a 22.9% increase over the same time last year and their best March on record since 2008. Fiat Chrysler Automobiles and Ford Motor Company paced behind GM. FCA tallying 26,531 sales last month while Ford moved 26,480. They command a respectable 14.1% share of the market and hold steady as Canada’s Top two best-selling automakers YTD.
Japanese brands Toyota, Honda, and Nissan/Mitsubishi lag behind somewhat with Toyota shipping 19,406 and Honda closing in quickly at 19,175, a 17.2% increase. Nissan sales grew 20.3% to 17,712 putting it just ahead of Hyundai-Kia which sold 17,448 vehicles in March, a drop of 8.1% from last year.
The losers last month were Volkswagen, whose sales decreased 10.7% and Smart, which absolutely plummeted with an 83.7% decline in sales compared to 2016. Other shrinking brands include Jeep, Mitsubishi (as a solo brand), Lincoln, and Ram.
The strong sales activity bodes well for the country’s economy, which is on track to outpace expectations this year, potentially spelling the end for Canada’s record low key interest rate.